Jonathan Lane, Gleadell’s Trading Manager, comments on the OSR market

Rapeseed prices continue to plod along in a pretty narrow trading range as the market remains devoid of any real new news to reinvigorate the lacklustre trade. Currency movement still has the biggest effect on UK farm-gate prices. Even last week’s long-awaited World Agricultural Supply and Demand Estimates (WASDE) report failed to produce any fireworks for the rapeseed market.

Record canola production in Canada, ample supplies in Europe and the Black Sea together with the prospect of a bumper crop in Australia should in theory keep a lid on prices. We still believe growers should take any opportunities to sell  at £300/t ex-farm.